A shopkeeper bought 60 kg of rice at ₹ 42 per kg and mixed it with 120 kg rice at ₹ 52 per kg. At what rate (₹ per kg) should he sell the mixture to gain 20%?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹58.40
Cost price of 60 kg rice =60 × 42 = 2520
Cost price of 120 kg rice = 120 × 52 = 6240
CP of the total 180 kg rice = 2520 + 6240 = 8760
CP of the mixture = 8760/180 = 48.6 Rs
For 20% profit Sp of the mixture = 48.6 × 120/100 = 58.32 Rs ≈ ₹58.40